Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (2007)109ITD87Indore
..... the case of ito v. lakhmani mewal das 103 itr 437, held: the reasons for the information of the belief contemplated by section 147(a) of the income-tax act, 1961, for the reopening of an assessment must have a rational connection or relevant bearing on the information of the belief rational connection postulates that there must be a direct ..... ay 97-98 on the following ground: on the facts and in the circumstances of the case, the ld. cit(a) has erred in annulling the assessment made in pursuance to notice under section 148 of the income tax act, 1961 for the ay 1997-98 holding that the reasons recorded by the assessing officer for reopening the assessment was inadequate ..... provision of section 44ae are to be examined. since the assessee has returned income much below, as per section 44ad/44ae, i have reason to believe that the income chargeable to tax has escaped assessment vide explanation 2(b)(c) to section 147 of i.t. act, 61 on account of omission/failure on the part of the assessee to .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1983)5ITD326Indore
..... in this appeal states that the acc erred in holding that the salary income earned by the assessee in france could not even be included for rate purposes in his total income computed under the income-tax act. 1961 ('the act').3. there is an agreement dated 26-3-1969 [see taxmann"s direct taxes circulars, vol. 1, pp. 460-71] between india and france for the avoidance ..... of double taxation within the meaning of section 90(b) of the act. in accordance with article xiv thereof, the salary earned .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1984)9ITD886Indore
..... firm and if it was a case of reconstitution, whether the assessee was entitled to registration 5. chapter xvi of the income-tax act, 1961 ('the act') enacts 'special provisions applicable to firms'. sections 182 and 183 of the act in chapter xvi provide the procedure for the assessment of registered and unregistered firms, respectively. sections 184, 185 and 186 ..... ito [1964] 51 itr 823 the hon'ble supreme court while interpreting the provision of section 44 of the indian income-tax act, 1922 ('the 1922 act') that was akin to the present section 189 of the 1961 act observed that section 44 was attracted only when the business of a firm was discontinued, i.e., when there is ..... individuals who have agreed to share the profits of a business carried on by all or any of them acting for all, and supersession of the agreement brings about an end of the relation. but the income-tax act recognises a firm for purposes of assessment as a unit independent of the partners constituting it ; it invests .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1986)15ITD312Indore
..... devendra chandra jain, sharat chand jain and bipin chand jain. shri s.b. gupta also refers to us to an order dated 23-12-1983 under section 185 of the income-tax act, 1961 ('the act') in the case of devendra bros, to contend that the allocation of the shares having been made in the hands of the hufs, there was no point in the ..... seen as to (7) whether the income received had any real connection with the investment of the joint family funds ; (2) whether the ..... in their capacity of an huf. in order to determine as to whether an income received by an assessee is income of its huf or not, the four important tests as enumerated by the hon'ble supreme court in the case of raj kumar singh hukam chandji v. cit [1970] 78 itr 33 have to be taken into account. it has to be .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1987)22ITD73Indore
..... profession" or in other words, whether dalali receipts in the hands of the assessee can be termed as income derived from professional activities. the terms "business" and "profession" are defined as per section 2(13) and (36) of the income-tax act as under :-- 2(13)-- "business" includes any trade, commerce or manufacture or any adventure or ..... force while he is practising in it. the learned departmental representative cited example of durant v. irc 12 tc 245 (ca) where a person, specialised in preparing income-tax returns and getting refunds, was held to be carrying on "business" and not "profession".similarly, he cited example of surveyers who were rendering advise to the ..... . ram kripal tripathi [1980] 125 itr 408. the learned departmental representative brought to our notice observations made by sampath iyengar in "law of income-tax" 7th edn., page 740 wherein the learned authors, after relying upon several indian and english decisions, have observed that in deciding whether a person .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1988)27ITD290Indore
..... hyderabad income-tax act. the income-tax officer however, held that as no tax was deducted from the interest, the assessee should pay on that amount income-tax at the maximum rate under section 24(12) of the hyderabad income-tax act. held that "payment" in section 24(4) of the hyderabad income-tax act [corresponding to section 18(3a) of the indian income-tax act, 1922 ..... meaning of that sub-section so as to attract the provisions of section 24(12) of the hyderabad income-tax act [corresponding to section 18(7) of the indian income-tax act] the order of the income-tax officer demanding tax from the assessee was, therefore, not in accordance with law.7. their lordships of the supreme court ..... in section 195(1) certainly envisage actual payment of amount. when provisions of section 194a(1) are read conjectively with section 195(1) of the income-tax act, it is abundantly clear that former covers both time of credit as well as time of payment whereas the latter only refers "the time of payment .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1991)36ITD247Indore
..... submissions of the parties.at the outset it may be stated that the above credits in the names of three ladies have been misapprehended by the tax authorities below as cash credits. section 68 of the income-tax act, 1961 reads as under :- 68. cash credits.-where any sum is found credited in the books of an assessee maintained for any previous year and the ..... 'ble mr. justice sabyasachi mukharji (as then he was) in sikri & co. (p.) ltd. v. cit [1977] 106 itr 682 (688)(cal.) need to be noticed :- section 68 of the income-tax act, 1961, is a statutory recognition of what was previously established by the judicial decisions under the indian income-tax act, 1922, namely, that where certain sums of money were claimed by the assessee to have .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1993)47ITD557Indore
..... for bonus and of rs. 1,099 on account of provident fund & employees insurance scheme. the assessing officer framed the assessment under section 143(l)(a) of the income-tax act, 1961 and thereby made adjustments by adding rs. 25,243, which included the aforestated amount of rs. 21,320. the assessee filed an application under section 154 of the ..... of payment along with the return, he is debarred from claiming the same for all the time to come. one has to consider the complicated provisions of the income-tax act along with the practical difficulties and there could not possibly be instance of strict compliance of filing the evidence of payment along with the return. if it is strictly ..... the return filed on 30-8-1989. it, therefore, should be taken that no evidence of payment of bonus was filed by the assessee along with the return of income. the cit (a) was, however, in error in not deciding this issue on merit in the appeal against the order under section 143(3) by simply depending upon his .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1993)47ITD591Indore
..... 1. after making adjustment under section 143(1)(a) of income-tax act, 1961, the book profit under section 115j of the act was worked out at rs. 10,22,959 and thus the total income @ 30 per cent was determined at rs. 3,06,890. net profit of the assessee as per profit & loss account for the instant assessment year ..... not fully absorbed and, therefore, the book profit needs to be taken at nil.11. no additional tax is, therefore, leviable. levy of additional tax is deleted.12. levy of interest under sections 234b and 234c of the income-tax act would be consequential. the assessing officer shall after modifying the assessment examine if at all interest under sections ..... 2. the assessee, therefore, filed an application under section 154 of the act before the assessing officer but it was rejected by him. an appeal therefrom before the cit (appeals) net with the same fate.aggrieved by the order dated 12-5-1992 of the cit (appeals), the assessee-company is in appeal.3. ld. representatives of the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1994)51ITD99Indore
..... on a sum of rs. 72.71 lakhs due to the assessee from the government of madhya pradesh, it would be taxable under section 28(ii)(d) of the income-tax act, 1961 as it falls within the phrase "any compensation or other payment received by any person for or in connection with vesting in the government or in any corporation owned or ..... a creditor to them for a sum of rs. 100.59 lakhs. further, the assessee is a 'person' as defined by sub-clause (31) of section 2 of the income-tax act, 1961.the excess of rs. 27.88 lakhs whether it is grant or given any other name was an amount received by the assessee by way of compensation for the transfer ..... filed by the assessee. order sheet dated 15-3-1985 is part of the quasi-judicial proceedings conducted by the ito under the statutory authority vested in him by the income-tax act, 1961. till such time, anything to the contrary was proved, we are unable to doubt its veracity, genuineness much less its existence. as pointed out, this order sheet is on .....
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